Question
How much must be deposited today into the following account in order to have $45,000 in 5 years for a down payment on a house?
How much must be deposited today into the following account in order to have
$45,000
in
5
years for a down payment on a house? Assume no additional deposits are made.
An account with annual compounding and an APR of
7%
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
